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Kenyans warn against investing in BTC companies promising 400% returns in six hour – Bitcoin News Settlement

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Capital Markets Authority (CMA), a Kenyan regulator, has warned Kenyan investors and citizens against investing in Fxbitinvest, a Bitcoin trading company. After Fxbitinvest’s inflated return-on-investment promises were made to lure unsuspecting Kenyans, the regulator issued the warning.

Unrealistic promises

CMA declarationFxbitinvest, which was issued on August 12, offers potential investors a return of investment (ROI), of 400% in just six hours. The regulator also identified “invoice numbers”, which were used by Fxbitinvest’s founders to raise funds from Kenyans.

The AMC appoints employees and owners to the company. Godfrey Koome and Hassan Juma are the two Kenyans identified. The third person, who is believed to be located in North America, has been identified only as an anonymous director.

Investors who are angry demand that police be hired

The CMA advised Kenyans not to deposit funds with the bitcoin trading firm. It also suggested that investors defrauded or Fxbitinvest be contacted by the Kenyan police. The AMC statement clarifies:

Investors who have been victims of fraud as a result of an investment in the company are encouraged to report to the nearest station with their national identification card, deposit slip, or Mpesa declaration. Also, any contracts entered into should be reported to the police station. Additional documents to support the claim.

Alternativly, investors can file a complaint through the online complaints portal, or by visiting the CMA offices.

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